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Downtown Richmond Demographics

• 51% of downtown Richmond homeowners are white and 49% are non-white.
• 86% of downtown Richmond's residents are renters
• Today, 40% of downtown Richmond’s residents are between 18-24 and 30% of residents are between 25-34.
• The downtown Richmond residential population is well-educated with 57% having a Bachelor’s Degree or higher – up from 40% in 2010 and 40% are enrolled in college
• On average, downtown workers earn more than workers citywide or regionwide, largely due to the concentration of knowledge jobs. 60% of downtown workers earn at least $3,333 per month, compared to 54% in the city and 49% in the region.
• The median income increased from $33,500 in 2015 to $39,000 in 2018.
• About 37% of households downtown and in the city report middle-class incomes.
• On average, downtown residents emit 25% fewer emissions than city residents.

Downtown Richmond Market Data

• Downtown has seen outstanding residential growth since 2000. Population more than doubled, rising from 9,800 in 2000 to 20,600 in 2018, for a 110% increase during a period when the city grew by only 13% and the region by 24%.
• The private sector employs 66% of jobs in downtown Richmond (50,910 jobs) and knowledge industry jobs account for 35,100 jobs.
• Richmond leads the list of “established downtowns” in the IDA Study with 63% of Richmond’s knowledge industry jobs, relatively higher than the downtowns in Seattle (58%), Minneapolis (58%) and Miami (52%).
• The IDA study finds that not only does Richmond’s downtown account for a significant proportion of the region’s jobs, but the city’s core experienced the region’s biggest percentage spike in residential population growth since 2000.
• As a regional jobs center and leader in workforce development, downtown brings more than 40,000 workers from surrounding counties into Richmond.
• About a quarter of downtown workers (18,835 employees) live in the city, but the remainder come from across the region.

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Richmond Demographics

• More than 52% of the Richmond population are women
• RVA has a “prime working age” of 25-54 years
• 45.9% White
• 48.8% Black/African American
• 6.7% Latino or Hispanic
• 9.2% Language other than English spoken at home
• 84.5% High school graduate or higher, age 25+
• 37% Bachelor’s Degree or higher age 25+

Richmond Market Data

• 25-minute is the average commute time
• 58.75°F (14.9°C) is the average temperature of the Richmond Region
• RVA's cost of living is 95/100 - 5 points lower than the U.S. average
• There are 9 historic districts in downtown Richmond alone
• Median household income: $42,356
• Media gross rent $942
• Men-owned firms: 9,180
• Women-owned firms: 7,426
• Minority-owned firms: 6,859